Without question, RFID technology has made itself known in many industries – particularly so in the retail sector.
RFID retail has been used for addressing various issues – from reducing man-hours required to check inventory, out of stock issues leading to lost profits, misplacement of products, goods lost as a result of shop theft, as quick payment checkout.
We are now at the age where technology is taking over most processes with the required accuracy and accountability. RFID, for sure, has changed a lot in the retail sector, which we will highlight here.
Here are five impressive examples of innovative uses of RFID technology in the retail sector:
Improvement to Retail Store operations
A single product in a store can have different variations.
For instance, a denim jacket for men has different widths, lengths, and even colours. Therefore, without a proper inventory tracking system, some of the variants may run out, while others may have no movement.
Or in a worst-case scenario – purchasing of more inventory when there is already an overstock of a certain variant.
Thanks to the use of RFID, retail staff can easily tell when a particular variant is no longer available inside the shop. It also helps to indicate which item is not selling or has low sales. In addition, RFID inventory tracking helps to locate products/items almost instantaneously.
To monitor in-store traffic patterns
The use of RFID technology like an RFID tag is equally relevant in tracing a store’s traffic patterns.
Customer and product flow is an important piece of information available when using RFID technology. Retailers can use RFID to know how products and people move around the store. Knowing the customer movement within the shop allows for better product placement and advertisement.
RFID can indicate which product is bought more, and which item has the least sales. This type of information is important for inventory purposes and profitability.
RFID technology can also help you to identify the products that are bought most in the day of the week, or month or the year. In addition, using RFID to track of movement inside the retail shop or warehouse via user ID cards, allows the ability to assign staff within the facility.
Improving security in the facility
Security is a challenge that cuts across most, if not all, industries.
Theft in a retail store is common, and RFID can help to reduce, or even prevent it from happening.
With this technology, any item can be traced within the store. This ensures that the quantities leaving the warehouse for delivery are accurate or delivery or receiving at the retail shop is as the delivery advise.
The checkout process
The use of RFID can improve the speed of checkout in retail.
This is normally the most crucial part of retailing, as many customers find it a hassle and may likely not go through the checkout process if the procedure is too complex or is congested with a queue. Checkout process in RFID is quick without the need to check each item, therefore the queue will be a short.
Right now, there’s the advent of RFID-enabled kiosks which allows customers to easily self-checkout on their own without the assistance of a staff. This allows them to make the purchase quickly with a reduced waiting time.
This means there will be less deployment of staff stationed at the cashier counters and allows the focus on other areas of the retail business.
RFID technology has helped many in the retail industry – whether it be in terms of consumer experience, business operations, or staff management in the day-to-day operations of the retail business.